Whether it’s regarding your home, your auto or your business, you know that insurance protection is a necessity; however knowing how to get the right insurance coverage from the best insurance agent may seem difficult. The first question you have to ask yourself is what type of insurance agent works best for you? In order to adequately answer this question, you need to know the difference between a captive agent and an independent agent.
A captive agent is an agent that only offers products to sell to his/her customers from one insurance company. The good news for the captive agent is that he/she only has to know the one company’s products, rules and procedures.
This type of agent may end up pushing the most suitable product that company offers to a customer, BUT it may not be the best for that particular customer’s needs. The captive agent’s key significance is to work and build revenue for the parent company, but not necessarily the customer.
Most captive agents are employees of their parenting company, which means their loyalty rests with their employer, NOT you. When issues come up such as a claim dispute, the captive agent cannot go to bat for you.
An independent agent can specialize in any line of business he/she wants while focusing on finding the right type of insurance coverage/product that meets his/her clients’ needs and budget. Most importantly, this independent insurance agent can provide competitive quotes for their clients by shopping a multitude of different insurance carriers’ products.
This means if the agent can’t find a fitting product with one insurance company, he/she can reach out to another carrier to find a more suitable product line for that particular client’s needs. By having this type of freedom to shop products and quotes from many different insurers, the independent insurance agent can offer greater customized policies at a more affordable price for their customers.
Since the independent insurance agent is not tied to just one insurance company, he or she can look out for your best interests. You will get the type of coverages that are right for you, not necessarily the insurance company’s. You will also have an agent that will help you along when you have a claim and make sure the claim is paid fairly.
Another great benefit independent insurance agents offer is that you will have an agent that can shop your rates every year if needed to be sure you are getting the lowest rates without reducing valuable coverage.
Which One is Best for You?
Of course this is entirely up to each individual; however independent insurance agents will work for YOU to offer customization towards YOUR insurance needs and not that of the parent company. Call our N.C independent insurance agency TODAY to save you time and money.